Communiqués de presse

First Asset Funds Inc. Announces November, 2004 Distributions

TORONTO, November 19, 2004 - First Asset Funds Inc. announces the following distributions for the month ending November 30, 2004. In all cases, the distribution will be paid on December 15, 2004 to unit holders of record on November 30, 2004.

Fund/
Trust
TSX
Trading
Symbol
Confirmed
or
Estimated
Distribution
Amount
(per unit)
Distribution
Amount
Annualized
TSX
trading
price per
unit as at
Nov18/04
Annualized
Yield
Pre-Tax
Interest
Equivalent
(based on
Ontario
Rates
First Asset Yield Opportunity FAY.UN Confirmed $0.1458 $1.7496 $25.42 6.88% 9.86%
Preferred Securities Income Fund PFS.UN Confirmed $0.12 $1.44 $22.50 6.40% 9.17%
Preferred Securities Limited Duration Fund - Series A PLD.UN Confirmed $0.1146 $1.3752 $22.85 6.02% 8.62%
Preferred Securities Limited Duration - Series B PLD.U Confirmed US
$0.0458
US
$0.5496
US
$9.10
6.04% 8.66%
Global 45 Split Corp. - Class A GFV Confirmed $0.10 $1.20 $13.25 9.06% 12.98%
First Asset Equal Weight REIT Income Fund(NOTE 1) RIT.UN ESTIMATED $0.03 n/a $9.99 n/a n/a

NOTE 1 - This is the Fund's first distribution and reflects a partial period from the closing date of November 15, 2004 to November 30, 2004.

For more information, please call Tanya Carey at First Asset Funds Inc. at (416) 642-1289 or 1 (877) 642-1289, or visit www.firstassetfunds.com.